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. >> president obama, congressional leaders meeting at the white house to avoid the fiscal cliff. we'll bring you the latest developments on that any minute now. >> also, we'll check up on health care, one of the year's best performing sectors. we'll find out if it's going to run out of steam in the new year and name some names for you coming up. >> and later on, big sky, big jump in estate taxes if congress fails to reach a deal on the cliff. we'll talk to a montana rancher who is pretty upset. coming up, montana's governor brian schweitzer is going to weigh in. >> looks like the meeting may have broken up. there goes nancy pelosi, and we are told now house speaker boehner may have already left, and, no, they are not talking to reporters. nancy is looking for her car to leave the white house, and we're not getting anybody talking to the reporters at this point, so maybe we'll get some -- and i'm told now the futures market in the after-hours pegs is extending the losses that we've been seeing in the last hour of trade. maybe we'll get eamon javers to get in front of the camera wh
. >> president obama, congressional leaders meeting at the white house to avoid the fiscal cliff. we'll bring you the latest developments on that any minute now. >> also, we'll check up on health care, one of the year's best performing sectors. we'll find out if it's going to run out of steam in the new year and name some names for you coming up. >> and later on, big sky, big jump in estate taxes if congress fails to reach a deal on the cliff. we'll talk to a montana rancher...
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Dec 29, 2012
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be sure to catch president obama exclusive "meet the press" sunday morning and check your local nbc stations and that's it for tonight. thanks for watching. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. it's another reason more investors are saying... it's part of what you slove about her.essing. but your erectile dysfunction - you know, that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready.
be sure to catch president obama exclusive "meet the press" sunday morning and check your local nbc stations and that's it for tonight. thanks for watching. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are...
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Dec 28, 2012
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with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, in fact, get hammered out in the remaining time before new year's eve and take a listen to senate republican leader mitch mcconnell earlier today explaining the problems he's facing in washington. take a listen. >> the truth is we're coming up against a hard deadline here and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> we do know that the house of representatives has been told that the members there should be back in town here in washington expecting votes on sunday at 6:30 p.m. on sunday and we don't be what that will be and we should get more clarity on that tomorrow if there is, in account fa, a meeting at the white house we m
with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, in fact, get hammered out in the remaining time before new year's eve and take a listen to senate republican leader mitch mcconnell earlier today explaining the problems he's facing in washington. take a...
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Dec 4, 2012
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state governors meeting with president obama to express their fears about the fiscal cliff while both sides squabble. we are going to get an expert lesson from a best-selling author on the art of getting deals done. investors are getting ready for friday's crucial employment report. so where are the jobs right now who is hiring? who is creating them in the face of the fiscal cliff? we have got the answers and they may surprise you. >>> and let the debate begin. it's a little fuzzy, roll the tape. there you go a new study says high-speed trading on wall street is hurting the small investor and even puts a price tag on exactly how much the little guy is getting killed. you know they're talking about that one, sue, down at the new york stock exchange. how are you doing, sue? >> great, ty. indeed they are talking about that and we are going to talk bhort exact numbers on that study in just a few minutes. stocks are steady. talks continuing in washington. we are just down about 12 points on the dow jones industrial average, 27 days until america goes over that fiscal cliff. the president j
state governors meeting with president obama to express their fears about the fiscal cliff while both sides squabble. we are going to get an expert lesson from a best-selling author on the art of getting deals done. investors are getting ready for friday's crucial employment report. so where are the jobs right now who is hiring? who is creating them in the face of the fiscal cliff? we have got the answers and they may surprise you. >>> and let the debate begin. it's a little fuzzy,...
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Nov 27, 2012
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. >> obama is going to a toy factory, correct, tomorrow? a toy factory during the holiday shopping season ahead of christmas. >> tomorrow he will be meeting with ceos including goldman sachs and some will meet with the president in person. the president is making the case that he is meeting with every constituency out there. >> thanks for that wrap up. do you think his assessment is right that the markets freaked out? >> i think in general if your catalyst is the u.s. government you should be generally freaking out. free market is not one that hangs on every whim and word of harry reid. at the end of the day there are multiple factors at work here. china hit a new low. we will talk about these things but i think it is multiple factors a at work beyond what somebody in washington says. >> this reminds me of when we had the european crisis or in 2008 when there was the vote on the tarp. i don't think we should overreact to this. if i learned anything from schoolhouse rock making a bill is like sausage making. you will have imaginations going
. >> obama is going to a toy factory, correct, tomorrow? a toy factory during the holiday shopping season ahead of christmas. >> tomorrow he will be meeting with ceos including goldman sachs and some will meet with the president in person. the president is making the case that he is meeting with every constituency out there. >> thanks for that wrap up. do you think his assessment is right that the markets freaked out? >> i think in general if your catalyst is the u.s....
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Nov 28, 2012
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. >> some of the nation's top business leaders set to meet president obama at the white house. there's a live shot of it. up next, we're joined by one ceo who says stop all the tax hike talk, we have a spending problem. that's what matters most. >>> plus, rising above the rhetoric. we hear from one republican who says the best way to fix the debt is to cut spending and raise taxes on the rich. >>> and later, don't look now, but the tax benefits from your 401(k) could be on the chopping block as part of a broad fiscal cliff deal. [ male announcer ] at scottrade, you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... all ] i'm with scottrade. olaf gets great rewards for his small business! pizza! [ garth ] olaf's small business earns 2% cash back o
. >> some of the nation's top business leaders set to meet president obama at the white house. there's a live shot of it. up next, we're joined by one ceo who says stop all the tax hike talk, we have a spending problem. that's what matters most. >>> plus, rising above the rhetoric. we hear from one republican who says the best way to fix the debt is to cut spending and raise taxes on the rich. >>> and later, don't look now, but the tax benefits from your 401(k) could be...
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Nov 16, 2012
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. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe because after a couple of uglier days in the market, we're seeing something of a comeback now led by technology, retail stocks are also in the green, food and beverages, autos among the sectors dragging on the in-dek. we can take a closer look at the bourses. ibex is down. ftse 100 sam thing, so we'll keep an eye on all these levels as the show progresses this morning. the bond space is where we've been focusing our attention with spain and greece on. spain today seeing prices rise, yields coming down to 5.78%. italy seeing a bit of a rally, too. sello
. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe...
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Dec 13, 2012
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meet at the white house today at 5:00 p.m. eastern right after -- right after the closing bell, bill. >> right after. >> the point is the house has said they are going away for a long weekend tomorrow, and here we have boehner -- >> wait, don't go yet. >> getting this meeting in at 5:00 p.m., and it's amazing the market came halfway back just on that announcement. not that we have details of a deal, not that we know that we're having an agreement. just the fact that they are meeting. >> actually i thought they would come off the loews much more. >> you did. >> cut it in half, but it stalled here. >> we need more detail. it is encouraging. >> yeah. >> that they are talking. i mean, as long as you've got them in the same room. now, you know, john boehner has said he's leaving tomorrow, come hell or high water. he's going back home to get red for christmas. he says, you know, there is a telephone. >> not leaving for a long weekend. >> you can negotiate over the telephone? >> can't do it. >> no credibility. can't do it. >> i'm gue
meet at the white house today at 5:00 p.m. eastern right after -- right after the closing bell, bill. >> right after. >> the point is the house has said they are going away for a long weekend tomorrow, and here we have boehner -- >> wait, don't go yet. >> getting this meeting in at 5:00 p.m., and it's amazing the market came halfway back just on that announcement. not that we have details of a deal, not that we know that we're having an agreement. just the fact that they...
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Dec 28, 2012
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president obama is going to meet -- >> did you say with a straight face? >> we've got to bring people in. andrew, ask again, whether it was keon or keon. that's why we're -- you've been nailing the ed. >> ed. >> nailing it. nailing ed. and john. >> nailed that. >> taft. >> unbelievable. >> here we go again. what happened? there it is. all right. the prompter guy is confused. president obama is going to meet with top congressional leaders at the white house this afternoon, in hopes of making progress. still, on the fiscal cliff. we'll see. in addition the house is coming back in session on sunday. u.s. equity futures. let's check them out right now. gotten worse. they were at 40, 60, now 80. down 80 and we were -- i don't know whether 150 was the bottom or where we go this time because we did hit that yesterday. we were down 150. closed down 18. so this would translate to being down about 100 versus when we really started the markets started taking it in earnest that we will go over. we'll see. there's what's happening in the asian markets. they're up, and
president obama is going to meet -- >> did you say with a straight face? >> we've got to bring people in. andrew, ask again, whether it was keon or keon. that's why we're -- you've been nailing the ed. >> ed. >> nailing it. nailing ed. and john. >> nailed that. >> taft. >> unbelievable. >> here we go again. what happened? there it is. all right. the prompter guy is confused. president obama is going to meet with top congressional leaders at the...
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Dec 21, 2012
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the president is meeting right now with majority leader harry reid. they're meeting now, and at 5:00 p.m. eastern we are told the president will make a statement, which we will carry live for you right here on cnbc. keep it here as we take you live to the white house with the president. coming up, my observation on what today's selling is telling us about what's happening or not happening in washington. and in just a moment we'll take you live to washington to get that statement from the president. back in a moment. [ male announcer ] the markets keep moving. make sure the news keeps coming with thinkorswim by td ameritrade. use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days, plus get up to $600 when you open an account. omnipotent of opportunity. you know how to mix business... with business. a
the president is meeting right now with majority leader harry reid. they're meeting now, and at 5:00 p.m. eastern we are told the president will make a statement, which we will carry live for you right here on cnbc. keep it here as we take you live to the white house with the president. coming up, my observation on what today's selling is telling us about what's happening or not happening in washington. and in just a moment we'll take you live to washington to get that statement from the...
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Nov 28, 2012
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i was disappointed that obama didn't say to use yahoo! to help with his efforts. >> but, look, on that note marissa mayer will be at the white house later today as one of the ceos meeting with the president. let's be fair and honest, you guys have two completely different strategies fro what you would have done with yahoo! more of a media perspective, where she's focusing on mobile and the product 150id. do you think the street is more embracing what she wants to do with this company going forward? >> first of all, i think you have to give her time to decide what she wants to do. she's been very smart, i think, in being low key about it, getting to understand the business, understand the people there, the opportunities around the globe for that business. she hasn't really said exactly what she's going to do. clearly you have to focus on shifting consumers trends. she has great experience in product and product design, mobile is obviously going to be a tremendous catalyst in the future if yahoo! can get it right, not something yahoo! hasn'
i was disappointed that obama didn't say to use yahoo! to help with his efforts. >> but, look, on that note marissa mayer will be at the white house later today as one of the ceos meeting with the president. let's be fair and honest, you guys have two completely different strategies fro what you would have done with yahoo! more of a media perspective, where she's focusing on mobile and the product 150id. do you think the street is more embracing what she wants to do with this company...
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Nov 16, 2012
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two seem after a key meeting between president obama and congressional leaders. however, a nuclear threat remains. a report that just came out a short time ago will add to worry on everything. the international nuclear agency says iran has just made some progress toward a nuclear weapon. >>> sue herera is off today. simon is in at the new york stock exchange and we will go to him in a moment. >>> but our top story is inz of rising above. maybe, just maybe. john harwood at the white house as a meeting between the president and congressional leaders wrapped up within the last hour or so. john? sum it up for us. >> tyler, it's a long way to the finish line but if you want to have a positive auspicious start to the negotiations, that's exactly what we got here at the white house. president obama brought the bipartisan leaders together. he spoke from a position of confidence having just won the election but he said we need to find common ground and when the bipartisan leadership walked out of the white house and addressed reporters in the driveway, positive notes were
two seem after a key meeting between president obama and congressional leaders. however, a nuclear threat remains. a report that just came out a short time ago will add to worry on everything. the international nuclear agency says iran has just made some progress toward a nuclear weapon. >>> sue herera is off today. simon is in at the new york stock exchange and we will go to him in a moment. >>> but our top story is inz of rising above. maybe, just maybe. john harwood at the...
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Nov 9, 2012
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what are they going to do as the supreme leaders meet in tehran? >> israel has confidence that iran is not fair minded and is a predator state. and, therefore, no matter how long this is dragged out, iran will get more and more concessions before it becomes impossible. for example, one of the concessions i'm told is israel wants the united states to agree that a third party killed iranian nuclear scientist. they're looking for us to endorse their law gambit against israel. they want us on their side against israel. >> boy, i think this is pretty farfetched -- >> it is. it is farfetched, larry. >> john bachelor, thank you very much, my friend. hope to see you soon on the radio. >>> so, folks, the stock market slump continues on wall street. since president obama was re-elected the dow's lost about 450 points. my next guest says put fiscal cliff fears to bed because a deal will be reached. here now is ken hebner of capital growth management. ken, as always, it's great to see you. all right. i'll put the fiscal cliff to bed. you see the progress going
what are they going to do as the supreme leaders meet in tehran? >> israel has confidence that iran is not fair minded and is a predator state. and, therefore, no matter how long this is dragged out, iran will get more and more concessions before it becomes impossible. for example, one of the concessions i'm told is israel wants the united states to agree that a third party killed iranian nuclear scientist. they're looking for us to endorse their law gambit against israel. they want us on...
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you're going to meet this courageous small business owner in just a few minutes. first, 137 days and counting. that's how many days america has before falling off the fiscal cliff. but there just might be some hope. a force to be reckoned with on capitol hill. now, here's what the newly minted running mate said today on a campaign stop in las vegas. >> the president has given us deficits every time. more borrowing, spending, more taxing, more regulating and if he's re-elected, it will be more of the same. we are not going to let that happen. >> the question is, is the romney-ryan ticket the key to writing the fiscal ship? if they do when i know the white house, how fast can they get the job done? we bring in two veterans of the house, dick gephart and dennis hoster, republican from illinois. both of you honor me. thank you very much. you heard paul ryan blame the democrats, really more in the senate. they have had plenty of votes in the house. can that log jam be broken if they take the white house? >> well, it can be broken, no matter who win it is white house. i
you're going to meet this courageous small business owner in just a few minutes. first, 137 days and counting. that's how many days america has before falling off the fiscal cliff. but there just might be some hope. a force to be reckoned with on capitol hill. now, here's what the newly minted running mate said today on a campaign stop in las vegas. >> the president has given us deficits every time. more borrowing, spending, more taxing, more regulating and if he's re-elected, it will be...
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Nov 27, 2012
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with members of the obama administration. what are they gonna do? they are going to try to tackle the looming fiscal cliff. so, when it comes to cutting spending, the big questions are where and just how much? ammanoffers is on capitol hill, you have been looking at all the options, lay it out for us. >> so much of the sound and fury in this debate has been over taxes and tax cuts and where that side of equation is gonna go but don't forget, entitlement spending and discretionary and defense spending are going to be a big part of the solution to this. senator dick durbin today suggested that medicare, medicaid and social security ought to be taken off the table for the fiscal cliff covers this year. so where are they going to find these spending cuts? it's going to be kind of painful. take a look at what simpson boles proposes that is sort of the jumping off point for a lot of this debate. they say in the year 2015 going to have $372 billion worth of savings in their plan and start on the defense side, you can see why some of
with members of the obama administration. what are they gonna do? they are going to try to tackle the looming fiscal cliff. so, when it comes to cutting spending, the big questions are where and just how much? ammanoffers is on capitol hill, you have been looking at all the options, lay it out for us. >> so much of the sound and fury in this debate has been over taxes and tax cuts and where that side of equation is gonna go but don't forget, entitlement spending and discretionary and...
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Nov 28, 2012
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obama will meet with the second group of ceos at 4:45 p.m. to get their input on how to solve the crisis. the group will include brian roberts, and yahoo!'s marisa meyer. for more, we're joined now by charles deebel. the president meeting today over the fiscal cliff. really the reason for the underperformance we've seen, not just in u.s. equities, but actually worldwide overnight. >> i think so, i think there's really a reevaluation with respect to europe going on as well, and having had a greek solution. and then they start to look at the rest of the eurozone, particularly spain. so you deal with one issue, but there are still plenty more stacked up behind. so that didn't help. but yeah, those comments clearly not constructive. it is the number one problem now having got to greece effectively out of the way, spain is on the back burner. the u.s. fiscal cliff is the worry at the moment. >> for all the time we've already spent talk about it, the reaction seems to reflect the fact that an assumption that they will reach a deal is priced in and
obama will meet with the second group of ceos at 4:45 p.m. to get their input on how to solve the crisis. the group will include brian roberts, and yahoo!'s marisa meyer. for more, we're joined now by charles deebel. the president meeting today over the fiscal cliff. really the reason for the underperformance we've seen, not just in u.s. equities, but actually worldwide overnight. >> i think so, i think there's really a reevaluation with respect to europe going on as well, and having had...
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president obama will meet with congressional leaders again today i
president obama will meet with congressional leaders again today i
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Dec 28, 2012
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nbc news is tweeting that barack obama will appear as a guest on "meet the press" this weekend. when we will hear from the president again will be sunday morning. something to watch out for over the weekend. presumably, we'll get incremental details on what this deal is. as this is negotiated throughout friday night, into saturday and the president's appearance into sunday morning. >> president obama to appear on "meet the press" on nbc on sunday. the nail biter of a weekend. you have to wonder if there will we any deal, mini deal, half caff deal, any sort of deal. >> i just want them to get it done before the redskins play the cowboys. that's what matters to me, and what matters to most people in washington by the way. >> i hope it's an exclusive on "meet the press." it is an exclusive. well, he's smart on that. >> the press guys are already here setting up. >> just joining us, so much has happened in the past couple of hours. president obama met with congressional leaders at 3:00. no offer on the part of the president. the leaders came out with very different messages. senator
nbc news is tweeting that barack obama will appear as a guest on "meet the press" this weekend. when we will hear from the president again will be sunday morning. something to watch out for over the weekend. presumably, we'll get incremental details on what this deal is. as this is negotiated throughout friday night, into saturday and the president's appearance into sunday morning. >> president obama to appear on "meet the press" on nbc on sunday. the nail biter of a...
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Nov 27, 2012
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president obama prepares to meet with another group of ceos, it's november 27th, 2012, "squawk box" begins right now. >>> good morning. welcome to "squawk box." i'm becky quick along with joe
president obama prepares to meet with another group of ceos, it's november 27th, 2012, "squawk box" begins right now. >>> good morning. welcome to "squawk box." i'm becky quick along with joe
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Nov 28, 2012
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got them yesterday. >>> president obama's meeting with high-profile chief executive officers to talk about the country's fiscal issues. john harwood in washington with more. and john, certainly seems like the pressure is rising to maybe reach some sort of a deal. my question, the ceos headed there today, are they firmly in the president's camp on this? or trying to push both sides to reach some agreement? >> i think they're trying to push both sides and, you know, business executives are generally speaking in the camp of wanting a solution, but as with any constituent, it comes down to what the details of the agreement are as to whether they want a tax increase, if it affects somebody else's tax loophole as opposed to their own. and that's the balancing act that politicians have. what we have going on here, becky, is a three-way conversation. politicians talking to the public, part of these events are for the american people to see that these leaders are working on this. the president's hitting the road to pennsylvania later in the week, republicans are doing events with small busine
got them yesterday. >>> president obama's meeting with high-profile chief executive officers to talk about the country's fiscal issues. john harwood in washington with more. and john, certainly seems like the pressure is rising to maybe reach some sort of a deal. my question, the ceos headed there today, are they firmly in the president's camp on this? or trying to push both sides to reach some agreement? >> i think they're trying to push both sides and, you know, business...
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Nov 28, 2012
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this afternoon president obama is scheduled to meet with several business leaders including ceos of home depot, macy's, caterpillar and at&t but futures are falling with signs there are troubles with negotiations on capitol hill. a market credible deal to solve the cliff is key to economic growth. >> that annual growth idea, that prospect is real in my view if we actually did get a market credible $4 trillion plan. the markets would realize those guys can govern. the big question is can we get a market credible plan. what would it look like at this point? >> senator reid said we won't have one. everyone has to get used to that. warren buffett talking about going over. probably going to happen in january. i feel like we're going to go over. you can meet with all of the ceos you want to. doesn't really matter. 200,000 people in a room. doesn't really matter. norquist saying don't have a deal. have to raise taxes. democrats don't seem to favor lowered defense budget and favor higher taxes for the rich and so we're done. i think we're done. >> after durbin speoke yesterda, if you're going to
this afternoon president obama is scheduled to meet with several business leaders including ceos of home depot, macy's, caterpillar and at&t but futures are falling with signs there are troubles with negotiations on capitol hill. a market credible deal to solve the cliff is key to economic growth. >> that annual growth idea, that prospect is real in my view if we actually did get a market credible $4 trillion plan. the markets would realize those guys can govern. the big question is...
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geithner is president obama's lead negotiator in the budget talks. he'll first meet with harry reid at 10:00 followed by john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then he'll meet with house minority leader nancy pelosi. president obama is signaling he's flexible on where tax rate shoes go if the wealthiest americans. return to clinton era tax rates would have house holds playing between 36% to nearly 40%. the president met with a group of ceos wednesday. they offered support for resolving the fiscal cliff crisis with a proposal that includes higher taxes for those who make more than a quarter million dollars a year. >> at this point both sides have acknowledged that there is going to be revenue concessions and there will be entitlement concessions. in fact if you listen to it, again, i'm not a master of the political art here, but i would say if you have these point of views in the business context as close as they are, i would say a deal would be in reach. >> interesting. bill ford jr. agrees with blankfei
geithner is president obama's lead negotiator in the budget talks. he'll first meet with harry reid at 10:00 followed by john boehner, eric cantor and paul ryan. geithner will lunch with mitch mcconnell and then he'll meet with house minority leader nancy pelosi. president obama is signaling he's flexible on where tax rate shoes go if the wealthiest americans. return to clinton era tax rates would have house holds playing between 36% to nearly 40%. the president met with a group of ceos...
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your phone call with president obama last night and can you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straightforward. but this -- this assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as part of a down payment to get to a longer range solution on entitlements and tax reform. >> there are a lot of options that are on the table including that one. >> mr. speaker, before the election you were asked whether if obama won, taxes would have to go up. you've made it sound like you would oppose that. now you've -- you're acknowledging that they will. >> the day after the election, i came here and made it clear that republicans would put revenue on the table. as a way to begin to move the process to get this resolved. >> right. so my question is, what -- what message do you have for people who look at the negotiating position and see that it's -- or believe that it's inevitable that you'll have to accept some compromise l
your phone call with president obama last night and can you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straightforward. but this -- this assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as part of a down payment to get to a longer range solution on entitlements and tax reform. >> there are a lot of options...
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we have late breaking developing stories starting with a surprise obama-boehner white house meeting on the fiscal cliff. we also have big changes in the obama cabinet, and more wild gyrations in the stock market. first, eamon javers is on capitol hill. good evening. >> good evening, larry. it was a showdown at the white house between the speaker and the president of united states. i'll bring you all the details here on who was inside that room over at the white house today. >> all right, thank you. >> and there was a twist this afternoon from president obama's favorite for secretary of state. ambassador susan rice withdraws her name from the running. i'll tell you coming up what lead her to make the decision. >> and i'm jackie deangeles. ongoing jitters over the fiscal cliff continue to keep the markets on edge. the decline is all across all ten s&p sectors. "the kudlow report" starts right now. >>> first up, we begin with breaking news out of washington tonight with just 18 days until the country's economy falls off the tax and fiscal cliff, turns out president obama and house speaker
we have late breaking developing stories starting with a surprise obama-boehner white house meeting on the fiscal cliff. we also have big changes in the obama cabinet, and more wild gyrations in the stock market. first, eamon javers is on capitol hill. good evening. >> good evening, larry. it was a showdown at the white house between the speaker and the president of united states. i'll bring you all the details here on who was inside that room over at the white house today. >> all...
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by boehner and obama. presumably that's what they were talking about in those meetings. but yeah, both sides are making significant concessions here. how that reverberates among their caucuses is going to be interesting today, whether the democrats on the one side and republicans on the other can live with what's being created here. >> yeah. once again, we'll keep a close ear to what the speaker says in just about an hour from now, we think, eamon. thanks a lot. >> how the cliff is impacting the markets, let's bring in michael jones. good to see you. >> good morning. >> what's your guess on how the markets react to any potential fiscal cliff deal given that we've already drifted higher? >> well, we believe that with real clarity on monetary policy for the next year, with the fed giving clear guidance, no more on-again off-again qe, you've got great support out of the ecb and the bank of japan is coming online. the only thing holding the market down is the potential consequences of the fiscal cliff. you get
by boehner and obama. presumably that's what they were talking about in those meetings. but yeah, both sides are making significant concessions here. how that reverberates among their caucuses is going to be interesting today, whether the democrats on the one side and republicans on the other can live with what's being created here. >> yeah. once again, we'll keep a close ear to what the speaker says in just about an hour from now, we think, eamon. thanks a lot. >> how the cliff is...
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he holds a meeting with congressional leaders on avoiding a fiscal cliff. wall street wants to know if they can strike a deal. welcome to "squawk on the street" i'm ellitel melissa lee. carl quintanilla is at the white house this morning. good morning. >> good morning. as you mention, melissa, an amazing week of meeting at the white house. none of them really matter when you put them up against the meeting that's about to happen in this building in an hour from now. speaker boehner, senator mcconnell, senator reid, democratic leader pelosi, all will come here and speak for a couple hours. day one of negotiations. nobody is expecting huge news but as jim has already tweeted out this morning, the market is going to look for signs that this tone of compromise that we've heard so much about all week long is that for real or are talks going to break down in early stages? the market specifically is going to depend on that tone today and we'll bring that live when the meeting happens a little after 10:00 a.m. >> we've seen reaction of futures to the possibility of
he holds a meeting with congressional leaders on avoiding a fiscal cliff. wall street wants to know if they can strike a deal. welcome to "squawk on the street" i'm ellitel melissa lee. carl quintanilla is at the white house this morning. good morning. >> good morning. as you mention, melissa, an amazing week of meeting at the white house. none of them really matter when you put them up against the meeting that's about to happen in this building in an hour from now. speaker...
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it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and consider his ideas. >> a lot of people didn't think the lunch would ever happen. >> interesting if he's going to be talking about ideas, mitt romney's idea had been to reach some sort of a cap on it 00 mem deductions. >> he would have just extended the bush tax cuts and then the other stuff would have been -- but if romney had been elected, whether bad long term to extend them, that's one thing, but he would have extended -- this is a weird argument to be having to have everything hinging on on the 2% that are -- suddenly as i've said before, suddenly everybody loves the bush tax cuts. so weird. >> flips the tables on who likes what. >> it all goes back to the line in the band. obama first time around caved and his base never for gave him for extending the bush tax cuts when he said he wouldn't. >> maybe the republicans should be reconsidering the tough line that they drew back in july of 2011 because this is a situ
it's their first meeting since the election. and this his victory speech, obama promised to engage with romney and consider his ideas. >> a lot of people didn't think the lunch would ever happen. >> interesting if he's going to be talking about ideas, mitt romney's idea had been to reach some sort of a cap on it 00 mem deductions. >> he would have just extended the bush tax cuts and then the other stuff would have been -- but if romney had been elected, whether bad long term...
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obama meets with israeli prime minister netanyahu on monday. and four days to go until super tuesday. has the improving economy already decided the election in obama's favor? pundits say yes. i think not. let's get right to our top story tonight. the dire warning from fed head ben bernanke this week. he told congress that our economy faces a perfect storm at the end of the year threatening our prospects for growth and recovery. take a listen. >> under current law on january 1st, 2013 there's going to be a massive fiscal cliff of large spending cuts and tax increases. i hope that congress will look at that and figure out ways to achieve the same long run fiscal improvement without having it all happen at one date. >> all right. so as the country's debt and spending continues to skyrocket, my question tonight really are we heading for this fiscal cliff come january? you have jillian epstein, foreign chief minority council to the house committee. american enterprise institute, and hit-or-miss member dave sweichert, republican from arizona. this wa
obama meets with israeli prime minister netanyahu on monday. and four days to go until super tuesday. has the improving economy already decided the election in obama's favor? pundits say yes. i think not. let's get right to our top story tonight. the dire warning from fed head ben bernanke this week. he told congress that our economy faces a perfect storm at the end of the year threatening our prospects for growth and recovery. take a listen. >> under current law on january 1st, 2013...
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president obama issued a warning on "meet the press." >> on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting to pick up. >> but after it was all said and done, leaders on the senate floor couldn't get anything done, at least not yet. >> there's no single issue that remains an impossible sticking point. the sticking point appears to be a willingness and interest or frankly the courage to close the deal. i want everyone to know, i'm willing to get this done, but i need a dance partner. >> this morning, we've been trying to come up with some counteroffice to my friend's proposal. we haven't been able to do that. i've had a number of conversations with the president and at this stage, we're not able to make the counteroffer.
president obama issued a warning on "meet the press." >> on midnight, december 31st, if congress doesn't act, then everybody's taxes go up. and for the average family, that could mean a loss of $2,000 in income. for the entire economy, that means consumers have a lot less money to make purchases, which means businesses are going to have a lot less customers, which means that they're less likely to hire and the whole economy could slow down at a time when the economy is starting...
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. >>> as we speak, congressional leaders and president obama are meeting at the white house as they work on last-minute negotiations to try to avoid the fiscal cliff. our eamon javers also reported just moments ago that treasury secretary timothy geithner is at the meeting as well. we're going to monitor that situation for you, and, of course, bring you all the latest developments on that. in the meantime, oil is up for the week, but ending on a down note today. cnbc's bertha coombs is at the center of all the action at the nymex. >> reporter: we're seeing oil back fractionally positive at this hour with thoseeadl crossing, but overall it was a somewhat down day after we got a disappointing report from the eia inventories delayed because of the christmas holiday. it was a smaller than expected drawdown in crude stocks, and also notable. we saw a $2 million barrel build when it came to crude stocks at the nymex hub in oklahoma. now at a record 49 million barrels to end the year. ironically we do have wti nymex up for the week, and it's actually been up for the last three weeks. part of th
. >>> as we speak, congressional leaders and president obama are meeting at the white house as they work on last-minute negotiations to try to avoid the fiscal cliff. our eamon javers also reported just moments ago that treasury secretary timothy geithner is at the meeting as well. we're going to monitor that situation for you, and, of course, bring you all the latest developments on that. in the meantime, oil is up for the week, but ending on a down note today. cnbc's bertha coombs is...
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teachers today are meeting to discuss how best to hand they'll tragedy, moving forward as student begin to return to classrooms. student who attended sandy hook are indefinitely excused. >>> president obama met with families yesterday and vowed to do what it took to stop this from ever happening again. hampton pearson has more. hampton? >> the president in the coming weeks will engage for new solutions. >> to engage broadly, law officials and mental health officials and educators. because this complex problem requires many solutions, not just one. >> now downtown washington, there were demonstrators demanding tougher gun control laws marching on the offices of the national rifle association. the powerful pro gun lobbying association. meanwhile, the sandy hook praj dihas leading lawmakers and long time gun advocates have a short list of policy changes, restoring the assault weapons bien. dianne feinstein saying she will introduce the legislation when the congress returns. >> we can protect the second amendment rights we can and will protect it but we can also look at ways we can make our
teachers today are meeting to discuss how best to hand they'll tragedy, moving forward as student begin to return to classrooms. student who attended sandy hook are indefinitely excused. >>> president obama met with families yesterday and vowed to do what it took to stop this from ever happening again. hampton pearson has more. hampton? >> the president in the coming weeks will engage for new solutions. >> to engage broadly, law officials and mental health officials and...
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so, why isn't that the way it's going to be playing out and the meeting by the house on sunday, just optic. obama coming back, just optics. >> well, like i said a couple of minutes ago, it's the relief rally versus the negative impact of the fiscal cliff. in other words, the recession their forces in the cliff, so, you picture two, like a sea change. the relief rally where it's going to happen, when we get a deal. then you have the recession their forces of the cliff right after that, so, you can see those two forces. i've been looking -- >> stocks can trade up during a recession. not when you're going into it. as you see going out of it. >> but it's still $130 billion of new taxes that are hitting the economy. maybe 150. i'm looking at two-month vices future versus the eight-month and i've been tracking it. track the money flow. so, as the money, if the money is coming out of the eight-month into the two-month, that's a real risk offside. as the money is coming out of the two-month and into the eight-month, back to the november 16th lows, the money was piling out into the eight-mont
so, why isn't that the way it's going to be playing out and the meeting by the house on sunday, just optic. obama coming back, just optics. >> well, like i said a couple of minutes ago, it's the relief rally versus the negative impact of the fiscal cliff. in other words, the recession their forces in the cliff, so, you picture two, like a sea change. the relief rally where it's going to happen, when we get a deal. then you have the recession their forces of the cliff right after that, so,...
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he made clear in his meetings this week with prime minister netanyahu that the united states will not let iran get a nuclear weapon. so we're applying pressure. there are sanctions that are going to be coming on in the next three months. there's going to be another conversation with iran next month. i expect that conversation to fail. but we will continue to build the case, you know, for military action against iran should that be necessary. but as the president, i think prime minister netanyahu agreed this week, we still have time to see if other options can bear fruit before we get to that point. >> that's a very interesting point. frank, can you react? what i just heard p.j. say is we're building a case, we the united states is building a case for military options. now, frank, is that to your liking? is that essentially where you want to go? because it sounds like p.j. crowley and you are closer than one might think. >> god forbid. >> well, p.j.'s an eminently reasonable man. the more he sounds like me, the more reasonable. i'll just say that at the outset. the point of this is, yo
he made clear in his meetings this week with prime minister netanyahu that the united states will not let iran get a nuclear weapon. so we're applying pressure. there are sanctions that are going to be coming on in the next three months. there's going to be another conversation with iran next month. i expect that conversation to fail. but we will continue to build the case, you know, for military action against iran should that be necessary. but as the president, i think prime minister...
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>> president obama is meeting with high profile chief executive officers today. >> we don't legislate but we know a lot about the consequences of failing to reach an agreement. >> we're here to support putting america back to work. >> we have to make sure that taxes don't go up on middle class families, that we're creating jobs. >> it's time for the president and democrats to get serious about the spending problem that our country has. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. >> how about we stop all the press conferences, statements, speeches. stop the personal and political attacks. >> people have a lot of different views. i'm willing to compromise a little bit. >> the president keeps opening doors for the speaker to go through and the action that the speaker announced, he is slamming the door in the president's face. >> time is running short. i'm going to do everything i can to protect as many americans from an increase in taxes as i can. >> are you guys just incompetent or what? i mean, if you can't do this, if you can't do what the america
>> president obama is meeting with high profile chief executive officers today. >> we don't legislate but we know a lot about the consequences of failing to reach an agreement. >> we're here to support putting america back to work. >> we have to make sure that taxes don't go up on middle class families, that we're creating jobs. >> it's time for the president and democrats to get serious about the spending problem that our country has. >> is the...
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>> president obama is meeting with high-profile officers today -- >> we don't speculate but we know the consequences of failing to reach an agreement. >> we're here to support doing the right thing and putting america back to work. >> we've got to make sure that taxes don't go up on middle-class families. our economy remains strong. we're creating jobs. >> it's time for the president and democrats to get serious about the spending problem that our country has. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. >> how about we stop the press conferences, statements, speeches, stop the personal and political attacks? >> people have different views. i'm willing to compromise. >> the president keeps opening doors for the speaker to go through. with the action that the speaker announced, it slammed the door in the president's face. >> time's running short. i'm going to do everything i can to protect as many americans from an increase in taxes as i can. >> are you guys just incompetent or what? i mean, if you can't do this, if you can't do what the american peop
>> president obama is meeting with high-profile officers today -- >> we don't speculate but we know the consequences of failing to reach an agreement. >> we're here to support doing the right thing and putting america back to work. >> we've got to make sure that taxes don't go up on middle-class families. our economy remains strong. we're creating jobs. >> it's time for the president and democrats to get serious about the spending problem that our country has....
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they'll remember barack obama. i don't understand how -- maybe this is just where everyone will be shocked and all of a sudden they'll meet somewhere oond he'll say fine, as long as you raise revenues. but i don't see it that way. >> where are you on the numbers some. >> i think 250,000 is too low. i think 500,000 or a million is more in order. the administration's consistently talked about the ultra wealthy and the millionaires. i think the notion me personally of millionaires paying more is fine. i think if it's done in the tone of constructive collaboration and everybody picks up an ore and rose for rez lose i'm fine. >> and where would you be on capital gains and dividends? >> that's a little bit stickier, but to your earlier point, around your buffett example, can capital gains go up a little bit and dividends? probably. do i think it has a material impact on capital deployment and investment, probably not. i think, joe, your point on the marginal tax rate, i think that is the key issue on the tax side. >> buf
they'll remember barack obama. i don't understand how -- maybe this is just where everyone will be shocked and all of a sudden they'll meet somewhere oond he'll say fine, as long as you raise revenues. but i don't see it that way. >> where are you on the numbers some. >> i think 250,000 is too low. i think 500,000 or a million is more in order. the administration's consistently talked about the ultra wealthy and the millionaires. i think the notion me personally of millionaires...
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. >> did you vote for president obama? >> i'm not going to fell. i didn't tell any who i vote for. >> you've been to some of these meetings. how do you look at the white house? how do you look at how both the white house and congress has been negotiating this as a deal-maker yourself? >> i didn't go to the meetings though i was invited. i happened to have a trip in brazil and chile i had to go to. i liked the fact the white house is reaching out. i always believed collaboration between business, government, civil society, you will have a better outcome than antagonism. i like the fact of reaching out, people engaging in conversation. i like the fact the president went to the business roundtable and was on tv. it's a very good thing to do. i hope it gets to the right place. business is not the only player but hopes it gets us to the right place. >> do you think the relationship between wall street and washington is going to get better or -- let me put it a different way. as a result of this election, has there been any lesson learned about how to de
. >> did you vote for president obama? >> i'm not going to fell. i didn't tell any who i vote for. >> you've been to some of these meetings. how do you look at the white house? how do you look at how both the white house and congress has been negotiating this as a deal-maker yourself? >> i didn't go to the meetings though i was invited. i happened to have a trip in brazil and chile i had to go to. i liked the fact the white house is reaching out. i always believed...
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house speaker boehner meeting with president obama at the white house. but what will it take to get a compromise deal? republican senator john thune will be our guest host for the hour. >> plus starwood hotel ceo frits van paaschen on the effects of the fiscal cliff and avoiding the european recovery model. >> we know big ben. >> parliament. >> the third hour of "squawk box" begins right now. >>> welcome back to "squawk box" here on cnbc. first in business worldwide i'm joe kernen along with becky quick. andrew ross sorkin is off today. we have a big lineup this hour. sitting in andrew's seat our guest host, senator john thune. he is with us for the hour to talk about the fiscal cliff. talk about jobs. and a lot more. we're also going to speak to the president of telemundo media. emilio row mano. we're going to convene an economic summit to tackle america's debt crisis and outline growth scenarios for 2013. in addition to solving our budget problems and the fiscal cliff, we're also going to figure out how it affects the hotel industry with starwood's hot
house speaker boehner meeting with president obama at the white house. but what will it take to get a compromise deal? republican senator john thune will be our guest host for the hour. >> plus starwood hotel ceo frits van paaschen on the effects of the fiscal cliff and avoiding the european recovery model. >> we know big ben. >> parliament. >> the third hour of "squawk box" begins right now. >>> welcome back to "squawk box" here on cnbc....
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the supreme court's going to be meeting today to issue opinions. president barack obama's health care overhaul and arizona's immigration law are at the top of the list of undecided cases. today is the court's last scheduled meeting until the fall but it is unlikely to be the final session. additional dates can be announce ed for later this week. we're going to be talking about what a decision might mean for politics and for business throughout the morning. coming up at 6:30 eastern we have a congressman from each side of the aisle. them at 7:40 eastern time we have dr. ezekiel emanuel. >> ja p morgan chase reports the now infamous $2 billion plus loss won't have its strategy changed very much. the paper reportsries can can i investments will still be allowed though trades with derivatives and private equity will be avoided. blackberry maker research in motion is said to be considering splitting its business in two. "the sunday times" reports it could separate its struggling division from its messaging network. another possibility would be to keep t
the supreme court's going to be meeting today to issue opinions. president barack obama's health care overhaul and arizona's immigration law are at the top of the list of undecided cases. today is the court's last scheduled meeting until the fall but it is unlikely to be the final session. additional dates can be announce ed for later this week. we're going to be talking about what a decision might mean for politics and for business throughout the morning. coming up at 6:30 eastern we have a...
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house speaker john boehner taking a meeting with president obama thursday. did they make any progress? that's a question john harwood joins us now with the latest on these epic negotiations. john, gives some sense that maybe things are -- something happening there? >> if there's progress there, disguising it very, very well. they met for a little will he less than an hour. people described it at frank on both sides, described it as frank afterwards and frank is a euphemism for we've got strong dpis agreements and did not make a break through. so, you know, i still think and i've always thought, as you guys know, that the fundamentals are in place for a deal to happen. but we may have to go over the cliff for a little while before it happens once those rates go up in january. and once some of those cuts kick in before you get the kind of chasening that lawmakers need to make a deal. >> what do you see as the top sticking point at this point? >> tax rates. >> not attaching the debt ceiling? >> no, no, the debt ceiling is a second stage issue and that will be a
house speaker john boehner taking a meeting with president obama thursday. did they make any progress? that's a question john harwood joins us now with the latest on these epic negotiations. john, gives some sense that maybe things are -- something happening there? >> if there's progress there, disguising it very, very well. they met for a little will he less than an hour. people described it at frank on both sides, described it as frank afterwards and frank is a euphemism for we've got...
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president obama set to meet with congressional leaders today, 3:00 eastern time, in an effort to avert going over the fiscal cliff. with only three days to go, our next guest says it's not falling over the cliff we should be worried about, it's how much the landing is going to hurt. brian mcginnis is the head of the campaign to fix the debt, president of the committee for responsible budget and joins us this morning from washington. maya, good morning. what do you mean by that? what are you trying to say when you talk about the landing hurting the most? >> well, the point is that the fiscal cliff is a deadline and it's an important deadline that's there to help us focus on getting a big debt deal. the sad state of play is that it appears they're not going to be successful in that. they're not going to be able to replace the cliff with a big, comprehensive debt deal that's big enough to help fix the fiscal challenges of the country. but what's even additionally troubling now is that we may actually go over the cliff. and the fact that we are going to, because of partisan fighting, and a
president obama set to meet with congressional leaders today, 3:00 eastern time, in an effort to avert going over the fiscal cliff. with only three days to go, our next guest says it's not falling over the cliff we should be worried about, it's how much the landing is going to hurt. brian mcginnis is the head of the campaign to fix the debt, president of the committee for responsible budget and joins us this morning from washington. maya, good morning. what do you mean by that? what are you...
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. >> president obama says he's going to be inviting congressional leaders of both parties to meet with him friday for talks on how to avoid the fiscal cliff. douglas holtz-eakin is the head of american action forum and we just flipped our rising above pin on the screen there, so we're going to ask you to rise above. >> okay. >> watches some of the weekend shows the republicans have moved a little bit on this tax issue at least suggesting they're willing to go up on the revenue side, they might be able to go on the actual rate itself but maybe i'm reading too much into it. what do you think? >> i think it's been obvious for a while since john boehner put revenue on the table with the president last summer in 2011 we saw it in the super committee. there's never been an objection to more revenue. there's been concern about how the revenue gets raised and obviously i think the question now is when do you raise the revenue. it's baked in the cake that we're going to tax the wealthy more heavily beginning january 1 with the affordable care act, we have the surtax on net investment income and
. >> president obama says he's going to be inviting congressional leaders of both parties to meet with him friday for talks on how to avoid the fiscal cliff. douglas holtz-eakin is the head of american action forum and we just flipped our rising above pin on the screen there, so we're going to ask you to rise above. >> okay. >> watches some of the weekend shows the republicans have moved a little bit on this tax issue at least suggesting they're willing to go up on the revenue...
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. >> just when we thought we had no progress at all from that mystery meeting last week between speaker boehner and president obama over at the white house we learned there was a phone call on friday in which boehner made this new offer to the president, let me walk you through the specifics of boehner's offer, starting as you say with raising tax rates on those who have incomes above $1 million. they're proposing overall about $1 trillion in new tax revenue. and they'd like to extend the republicans would the debt ceiling, but only in exchange for what they're calling substantial spending cuts and reforms. they'd like a one for one ratio on the spending cuts in order to extend the debt ceiling. take a look at how that compares to where barack obama has stood so far. he's saying he wants to raise tax rates at above 250,000 in income and he's looking for $1.4 trillion in new tax revenue. that's about 0.4 trillion higher than the speaker as of right now. and he's looking for a near permanent extension of the debt ceiling. he'd like to get rid of that problem altogether. so, right there, c
. >> just when we thought we had no progress at all from that mystery meeting last week between speaker boehner and president obama over at the white house we learned there was a phone call on friday in which boehner made this new offer to the president, let me walk you through the specifics of boehner's offer, starting as you say with raising tax rates on those who have incomes above $1 million. they're proposing overall about $1 trillion in new tax revenue. and they'd like to extend the...